Jiangxi Province-based Chinese steelmaker Fangda Special Steel Technology Co., Ltd has announced that it is aiming to produce 4.05 million mt of crude steel in 2022. The president of the company, Xu Zhixin, said the company will quickly adjust its strategy to reduce production costs in the given year.
In 2021, Fangda Special Steel’s net profit amounted to RMB 2.732 billion ($0.42 billion), up 27.65 percent year on year.